GMB says most members – especially women – will better off
Workers, including nuclear engineers, meter readers and call centre staff, are being encouraged to vote ‘Yes” for the new deal which the union says will see most of them – especially women – better off.
The situation is an incredible turnaround since last year, when the company threatened to de-recognise the union after it publicised plans to close one of their three final salary schemes, cap pensionable increases at 1% and introduce a defined contributions scheme for all new entrants.
GMB national officer Eamon O Hearn Large said: “We campaigned and led negotiations to secure the retention of all three schemes, a 1% cap on salaries above £64,456 and the introduction of a new defined benefit Career Average Revalued Earnings (CARE) scheme for new entrants.
“CARE is a defined benefit pension scheme that guarantees a certain pension on retirement. It is potentially more beneficial for the majority of GMB members. A majority of GMB members will experience either no change to their pension arrangements or be better off particularly our women members in the call centres.
“It is thanks to the steadfastness of GMB members and their determination to hold onto secure pensions that EDF will now be one of few companies in the UK with an open defined benefit pension scheme to new entrants. Too many other companies took the easy route and threw responsibility back to the state and taxpayers to provide income in retirement for their staff.”
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